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WorksheetsHow Money SMART are you?
Total questions: 13
Worksheet time: 7mins
Which of the following statements is NOT correct about most ATM cards?
You can get cash anywhere in the world with NO fee.
You must have a bank account to have an ATM card.
You can generally get cash 24 hours a day.
You can generally find out your bank account balance at an ATM.
You cannot have a credit card until you area 21 years old.
True.
Banks realize our brains haven't fully matured until at least 21
False.
Many teens have credit cards around 18 or 19 years old.
Some research has said "Teens spend about ______ dollars in America each year.
15 Billion
25 Billion
75 Billion
84 Billion
You don't have to pay back any credit card debt until you have graduated from college.
True
False
Most millionaires are college graduates.
True
4 out of 5 are college graduates.
False
It's simply all about how hard you work.
Most millionaires work fewer than 40 hours per week.
True.
They average 25 - 30 hours a week at the most.
False.
They usually work at least 45 - 55 hours a week.
Most Millionaires drive brand new high dollar value cars.
True.
Most millionaires; cars cost at least $125,000
False.
Most millionaire drive used cards. Predominately Fords.
The average college graduates earn more than high school graduates earn.
Yes.
No.
Once you declare bankruptcy it......
clears your entire financial history and gives you a fresh brand new start.
it stays on your record for 10 years making it tough to get a job or make other big purchases.
Do you believe a high school freshman in the U.S.A. should get a weekly allowance from their caregivers?
Yes.
Always. It's their right as their kid.
No.
It's not a right but more so a privilege.
You should get allowance if you work for it like doing your chores or making decent grades.
What's an allowance?
Which one of these is NOT a requirement to have a credit card?
Be 18 yrs or older
Have proof of an income
A cosigner
Determine your credit health.
Which of the following is NOT a disadvantages of using a Cash Advance Service?
always have to pay.
in the end you save more $.
falling into a loan cycle where you need a new loan to pay for your last loan
you are getting a bad deal due to really high interest rates.
Overdraft protection is when you pay a fee and the bank takes care of any purchase you don't have the $ to cover and you don't have to pay the bank back any of the $.
False
True
